Mortgage Rates Up To 3-Week Highs

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Posted To: Mortgage Rate Watch

Mortgage rates rose today, resuming an upward trend that began last week after political turmoil in Italy began to die down. More simply put, rates had been rising in mid May. Italy’s political turmoil caused enough concern about the fate of the Eurozone that investors moved money into bonds, thus helping rates move lower. As risks subsided in Europe, rates have returned to similar levels as those seen in the first half of May. Any talk of rejoining an upward trend that began last week is a bit misleading . In fairness, the broader trend has been toward higher rates since last September. Last week’s move was one of the many volatility little episodes inside the broader trend. One of the driving forces behind the broader trend is the current state of central bank policy (The Fed, and The European…(read more)

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